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VR Education enjoys record December

It was a busy month or so for VR Education: Titanic VR made its debut on PlayStation at the end of November, while its ENGAGE learning and trading platform launched a couple of weeks later

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ENGAGE is seen as the “long-term vision” of VR Education, according to bosses

December was a record month for VR Education Holdings Plc (LON:VRE) in which the virtual reality firm launched its showcase Titanic experience as well as its ENGAGE learning and training platform.

Titanic made its long-awaited debut on PlayStation at the end of November and generated revenue of €100,000 last month. For 2018 as a whole, revenue is expected to be around €0.7mln.

This boost, coupled with revenues from other showcase experiences and ENGAGE, allowed VR Education to deliver a record monthly revenue in December.

READ: VR Education launches ENGAGE

“With the release of our ENGAGE platform in December 2018 we are very excited for 2019 and beyond,” said chief executive Dave Whelan.

The AIM company has progressed with the onboarding of Shenandoah University in Virginia over the past few weeks while additional content from Oxford University has also been released onto ENGAGE.

One of the platform’s key features is that teachers and educators can create their own VR lessons and presentations and the Massachusetts Institute of Technology, a top-ranked university in the US, used ENGAGE to host live events during its MIT Hackathon week.

VR Education is now actively marketing the platform and is at a trade show in London this week to do just that. The marketing team are also scheduled to fly into Dubai and the US to demonstrate ENGAGE to industry leaders.

New experiences coming this year

Although ENGAGE represents “the long-term vision” for VR Education, the company is not holding back with the VR games and experiences side of its business.

Two new showcase experiences are due to be launched this year: Raid on the Ruhr – based on the Dambusters mission – is expected in the first half, while Space Shuttle Commander should be available in the second half.

“Our showcase experiences to date have been an important recruitment tool and revenue generator and we will continue to build titles with small internal teams as we grow ENGAGE into a world leading platform,” added Whelan.

Quick facts: VR Education Holdings PLC

Price: 7.5 GBX

AIM:VRE
Market: AIM
Market Cap: £14.49 m
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